Australian (ASX) Stock Market Forum

FLX - Felix Resources

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Gaffwick Pty increased their holding in FLX to 27,584,706 shares and 2,250,000 class B shares.
 
noirua said:
Gaffwick Pty increased their holding in FLX to 27,584,706 shares and 2,250,000 class B shares.
Click to expand...

i wonder why

Fwd 2008 PE = 1.70/0.381 = 4.46

Earnings and Dividends Forecast (cents per share)
2005 2006 2007 2008
EPS 10.1 11.3 24.8 38.1
DPS 2.0 3.4 6.8 6.2

EPS(c) PE Growth
Year Ending 30-06-06 11.3 15.0 12.1%
Year Ending 30-06-07 24.8 6.8 119.5%

however are they goign to miss forecasts by 50% again like they did last yr?

thx

MS
 
noirua said:
Gaffwick Pty increased their holding in FLX to 27,584,706 shares and 2,250,000 class B shares.
Click to expand...

Gaffwick Pty have further increased their holding in FLX by 113,163 shares. Their holding is now 27,697,869 shares and 2.250,000 class B shares.
 
noirua said:
This report by " Aireview " looks more favourable on thermal coal: http://www.aireview.com.au/index.php?act=view&catid=8&id=4039&setSub=1
Click to expand...

Seems like they downgraded 2006 and 2007 forecasts but lifted the 2008 one

thx

MS

Earnings and Dividends Forecast (cents per share)
2005 2006 2007 2008
EPS 10.1 11.3 24.8 38.1
DPS 2.0 3.4 6.8 6.2

Was before

Earnings and Dividends Forecast (cents per share)
2005 2006 2007 2008
EPS 10.1 10.6 21.3 55.7
DPS 2.0 3.4 6.8 6.2
 
michael_selway said:
Seems like they downgraded 2006 and 2007 forecasts but lifted the 2008 one

thx

MS

Earnings and Dividends Forecast (cents per share)
2005 2006 2007 2008
EPS 10.1 11.3 24.8 38.1
DPS 2.0 3.4 6.8 6.2

Was before

Earnings and Dividends Forecast (cents per share)
2005 2006 2007 2008
EPS 10.1 10.6 21.3 55.7
DPS 2.0 3.4 6.8 6.2
Click to expand...

Hi m_s, Yes, It does look as if Felix want everyone to forget what's happening now and fix their eyes on 2008.
 
noirua said:
Hi m_s, Yes, It does look as if Felix want everyone to forget what's happening now and fix their eyes on 2008.
Click to expand...

Felix still have to pay capital and interest on the A$62 million loan for Minerva -70% owned by Felix and 30% by Sojitz - and the A$75 million for development of the Ashton Longwall Underground mine, the latter shared 60% by Felix, 20% by Itochu Group of Japan and 20% by Singapore based IMC. Despite the sale of 20% of the Ashton Open-cut and longwall development to IMC Group, that gave Felix A$20.425 million in Aug 2005 and a further A$10 million once the Longwall development commences.
 
Felix have continued their gradual recovery as they trade at $1.85 this morning. After the MD's radio report on Moolarben and the increasing confidence in thermal coal pricing, the outcome for the Y/E June 30th 06 is looking better, despite demurrage problems.
 
Felix continue this recovery phase and have reached $1.95 this morning. Moolarben hopes make this one look cheap, IMHO.
 
noirua said:
Further encouraging news for Felix should help the stock when the market opens on Thursday.

A $33 million cheque for Felix by selling 21.4% of it's stake in the Minerva and Athena projects. ( equates to 15% of the whole project and Felix retain a 55% interest ) : http://www.asx.com.au/asxpdf/20060712/pdf/3xjlgxp2cdzss.pdf
Click to expand...

Not bad its rebounded well in recent weeks

thx

MS
 
michael_selway said:
Not bad its rebounded well in recent weeks

thx

MS
Click to expand...

Should continue upwards, infact nearly at $2.00 now, and may well get back to $2.20.
 
Felix look quite solid now and may be looking for further partners to come in on the lucrative Moolarben.
The yearly results - year ending June 06 are out very shortly - should show Felix with a profit around $40 million and better than expected forecasts for 2007 and 2008.
Despite the costs for developing Minerva and Ashton Longwall, total around $137 million, cash coming this year from selling interests is around $55 million with a further $10 million to be received for Ashton.
 
Felix closed today at $2.12, up 10 cents, continuing the present bullish run from low levels. Target in the range $2.30 - $2.50, up around 40%, looks a likely outcome - driven as they are by Moolarben.
 
Felix are moving up quickly and have added 12 cents more today at $2.24. The company is tightly held with nearly 70% of stock held by the major five stockholders. Annual results are due next week. There have been NO rumours of a likely bidder for FLX although it would be virtually cut and dried if the major holders agreed.

Some moves can be expected concerning the jewel in the crown tenement " MOOLARBEN " that may produce in excess of 10 million tonnes of thermal coal, acceptable for export, and the open cut part of the mine will be a low cost producer.
 
noirua said:
Felix are moving up quickly and have added 12 cents more today at $2.24. The company is tightly held with nearly 70% of stock held by the major five stockholders. Annual results are due next week. There have been NO rumours of a likely bidder for FLX although it would be virtually cut and dried if the major holders agreed.

Some moves can be expected concerning the jewel in the crown tenement " MOOLARBEN " that may produce in excess of 10 million tonnes of thermal coal, acceptable for export, and the open cut part of the mine will be a low cost producer.
Click to expand...

Their forecast for next year, will be the main thing in the results

This year they missed forecast by 50% previously

Earnings and Dividends Forecast (cents per share)
2005 2006 2007 2008
EPS 10.1 11.3 24.8 38.1
DPS 2.0 3.4 6.9 6.2

thx

MS
 

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